Downsizing Your Home
Have you thought of downsizing your life? Have you walked through IKEA and looked at those compact living spaces and wondered if you could live like that? Have you considered a "tiny house" like on that TV show? Would you store all your belongs, buy an RV and drive across the country for a year? Let's take a look at this as many people, young and old, are considering a change to a more minimalist lifestyle.
Here's a short list of things to think about before you make a move.
Make a thorough plan
Ask yourself WHY you want to downsize?
Have the kids and grand-kids moved to another state? Are you looking for a place where the weather is mild and warm? Have you lost a partner through separation, death or divorce?
Remember that any move is stressful but adding these factors on top of it may really make this a challenge. So create a list of pros and cons, considering each point completely and then create your plan. Include things like determining the type of housing (smaller house, condo, RV or even a cruise ship)? what is the lifestyle change you are making? What are the costs of selling and acquiring housing, de-cluttering, selling stuff, replacing furniture old with new, etc.
Consider carefully the financial benefits
What are the housing prices compared to your old neighborhood? What is the price of the new community's lifestyle? Will you pay cash or take on a new mortgage? What are your tax consequences if you have a large capital gain?
Manage Family Expectations
Nobody wants to see their family unit broken up and move away. Have an honest discussion with your children and close relatives to see if there are some underlying issues that need to be addressed before selling and moving.
Then get them to select items from your home they want before you begin purging your belongings on Craigslist.
Understanding the new lifestyle
Are you ok with moving from a large home with an acre of land into a smaller condo with no backyard? Will you have a need to do your own gardening or are you ok with the HOA doing it? Will leaving your close friends have an effect on you or can you easily make new ones?
What is your time frame?
Experts say you should move before you need to. If you desire a single level home, don't wait till you're physically impaired to start your transition.
Hire professionals to help
Get a great Real estate agent for both ends of the move and consider a senior move manager or a de-cluttering consultant. These will all help you make a smooth transition.
If you found this information helpful, give it a like and share it with your friends on social media. if you need more information or would to get a current home valuation, feel free to reach out and contact me.